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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Moominoid who wrote (6795)11/14/2002 11:00:44 AM
From: TradeliteRead Replies (2) of 306849
 
David, if real estate people found the market responsive to hourly fees or fee-for-service arrangements, they would probably like to go to this model.

However, real estate agents would then expect to be treated like other people who charge this way--meaning you pay the lawyer even if he loses your case, you pay the doctor even if you die, and you pay the agent who spent months showing you houses even though you decided not to buy one, or you took your house off the market and decided not to sell.

They would probably also then be able to work the same hours as other professionals--no night work (except at overtime pay, maybe), no weekends---no more of this 24/7 stuff that they find themselves doing when working on transactions. Clients would generally then have to get better organized themselves and stop messing around, dragging their feet or doing certain other things that would run up the hourly bill.

Is it realistic to expect this to happen in the residential real estate field? Doubt it. It works in commercial real estate just fine, but that's business-to-business-type selling using an institution's money instead of personal funds, not people-to-people selling when they're buying or selling their biggest investment.
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